Assenagon Asset Management S.A. Trims Stock Holdings in GeneDx Holdings Corp. (NASDAQ:WGS)

Assenagon Asset Management S.A. lessened its stake in GeneDx Holdings Corp. (NASDAQ:WGS) by 10.1% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 329,256 shares of the company’s stock after selling 37,040 shares during the period. Assenagon Asset Management S.A.’s holdings in GeneDx were worth $13,974,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Acadian Asset Management LLC acquired a new stake in shares of GeneDx during the second quarter worth about $34,000. nVerses Capital LLC acquired a new stake in shares of GeneDx in the 2nd quarter valued at $50,000. CWM LLC acquired a new stake in GeneDx in the third quarter valued at $89,000. SG Americas Securities LLC acquired a new position in shares of GeneDx during the 3rd quarter worth about $198,000. Finally, Thompson Davis & CO. Inc. increased its holdings in shares of GeneDx by 20.8% in the 1st quarter. Thompson Davis & CO. Inc. now owns 24,094 shares of the company’s stock valued at $220,000 after acquiring an additional 4,150 shares during the last quarter. Hedge funds and other institutional investors own 61.72% of the company’s stock.

Analyst Ratings Changes

WGS has been the subject of several recent analyst reports. Craig Hallum boosted their target price on GeneDx from $46.00 to $70.00 and gave the stock a “buy” rating in a research note on Thursday. TD Cowen upped their target price on shares of GeneDx from $46.00 to $50.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. BTIG Research lifted their price target on shares of GeneDx from $35.00 to $45.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. The Goldman Sachs Group boosted their price objective on GeneDx from $32.00 to $54.00 and gave the company a “neutral” rating in a research note on Wednesday, October 16th. Finally, Wells Fargo & Company assumed coverage on shares of GeneDx in a research note on Tuesday, August 27th. They set an “equal weight” rating and a $34.00 target price for the company. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $45.67.

GeneDx Stock Performance

Shares of WGS stock opened at $58.82 on Friday. The company has a current ratio of 2.38, a quick ratio of 2.22 and a debt-to-equity ratio of 0.27. GeneDx Holdings Corp. has a 12-month low of $1.16 and a 12-month high of $61.96. The company has a market cap of $1.54 billion, a price-to-earnings ratio of -11.36 and a beta of 2.32. The stock has a 50 day simple moving average of $43.27 and a 200-day simple moving average of $31.08.

GeneDx (NASDAQ:WGS) last posted its earnings results on Tuesday, July 30th. The company reported ($0.11) EPS for the quarter, topping analysts’ consensus estimates of ($0.26) by $0.15. GeneDx had a negative return on equity of 22.71% and a negative net margin of 48.21%. The company had revenue of $70.51 million for the quarter, compared to the consensus estimate of $58.90 million. On average, equities analysts forecast that GeneDx Holdings Corp. will post -0.75 EPS for the current year.

Insider Transactions at GeneDx

In other news, CEO Katherine Stueland sold 2,154 shares of the business’s stock in a transaction on Monday, July 29th. The stock was sold at an average price of $33.54, for a total value of $72,245.16. Following the completion of the transaction, the chief executive officer now directly owns 92,550 shares of the company’s stock, valued at $3,104,127. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, major shareholder Opko Health, Inc. sold 100,000 shares of the business’s stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $31.82, for a total transaction of $3,182,000.00. Following the completion of the sale, the insider now directly owns 2,871,570 shares of the company’s stock, valued at $91,373,357.40. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Katherine Stueland sold 2,154 shares of GeneDx stock in a transaction on Monday, July 29th. The shares were sold at an average price of $33.54, for a total value of $72,245.16. Following the completion of the transaction, the chief executive officer now owns 92,550 shares in the company, valued at $3,104,127. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 408,668 shares of company stock valued at $13,544,988 in the last ninety days. Corporate insiders own 28.10% of the company’s stock.

GeneDx Profile

GeneDx Holdings Corp., through its subsidiaries, provides genomics-related diagnostic and information services. The company offers Centrellis, an AI-driven health intelligence platform that integrates digital tools and artificial intelligence allowing scientists to ingest and synthesize clinical and genomic data to deliver comprehensive health insights.